WestBridge infuses Rs. 1,100 crore in Fogg maker Vini

“The funds would be infused over next 10 days and would be used for the primary growth of the company and to foray into personal hygiene space,” said Darshan Patel

ET Bureau

Updated: September 06, 2017, 09:56 IST

Vini Cosmetics that makes Fogg deodorants will see fresh round of funding worth Rs 1,000 crore from West-Bridge Capital Partners and Sequoia Capital that would be used to foray into personal hygiene space in addition to growing the company, Vini promoter Darshan Patel said.

“The funds would be infused over next 10 days and would be used for the primary growth of the company and to foray into personal hygiene space,” said Patel, of the third round of funding since the company’s inception in 2010. The fresh round of investment marks exit of Bay Capital that had in 2011 invested Rs 35 crore.

The size of funding puts Vini’s valuation close to Rs 5,000 crore, sources indicate. The two investors would have 30% stake in the firm. With this, Patel dispels rumours of Vini sellout and asserts both the investors are longterms players. “They have a 10-15-year horizon in mind and are not in a hurry to exit, giving me enough space to grow. Even if we list the company, my investors will be relaxed as they love the ‘listed’ space,” he said.